Bruce Power renews 10-year MSA with AtkinsRéalis; expected to be for up to $1B in additional work

MSA will bolster orders to Canadian workers and manufacturing supply chain that supports Canadian-made CANDU reactors

MONTREAL, Aug. 18, 2025 /CNW/ - Candu Energy Inc., an AtkinsRéalis company [AtkinsRéalis Group Inc.] (TSX: ATRL), has renewed a 10-year master services agreement (MSA) with Bruce Power — operator of eight CANDU® reactors at their Tiverton nuclear station, one of the largest in the world, that supplies Ontario with 30% of its power.¹ The MSA runs until 2035 and, subject to future Bruce Power contracting awards, covers possible future scopes of work for AtkinsRéalis expected to be worth up to $1 billion.² This new long-term collaboration with Bruce Power replaces the previous MSA signed in 2015 between the same parties, which was set to expire at the end of this year.

"The renewal of this MSA is a testament to the strength of our relationship with Bruce Power, and the confidence they place in our work as the steward of CANDU technology," said Ian L. Edwards, President and Chief Executive Officer, AtkinsRéalis. "Our continued long-term support for their CANDU-powered station is critical to Ontario's energy security and clean power goals.³ We look forward to many more years of collaboration together, building on the success of the prior MSA."

Developed collaboratively with Bruce Power, the renewed MSA spans Candu Energy Inc.'s entire scope of capabilities, for future packages of work not covered by its existing life extension contracts through the Shoreline Power Group joint venture.⁴ This includes all original equipment manufacturer services and innovation scopes that support the ongoing health and maintenance of the Bruce Power station, such as reactor core engineering, tooling and robotics, parts supply, nuclear safety and licensing, project management and controls, outages, reactor programs, and lifecycle management. The MSA will streamline future contract negotiations, allowing an even more efficient focus on cost and schedule delivery.

"This is a homegrown partnership that aligns closely with Bruce Power's Canadian at our Core strategy that secures good jobs, strengthens the economy and builds on Ontario's position as a world leader in the production of clean energy and cancer-fighting medical isotopes," said James Scongack, Bruce Power Chief Operating Officer and Executive Vice-President. "These types of long-term frameworks recognize that our nuclear industry is successful when we plan for the long-term with rigor and certainty leading to high levels of safety, quality, schedule and cost performance."

AtkinsRéalis, the original equipment manufacturer (OEM) of CANDU technology, has supported Bruce Power's $13 billion, on-time and on-budget life extension program over the past decade, ensuring six CANDU reactors at their station run until 2064.⁵ The Company has also provided operational support, including mock-up facilities, waste storage, training, and lab spaces to Bruce Power.

"As OEM of CANDU technology, our Nuclear sector has a strong reactor support capability in addition to our new build and life extension offering," said Joe St. Julian, President, Nuclear, AtkinsRéalis. "This makes us a trusted vendor to utilities worldwide for ongoing engineering, outage & field services, and spare parts support to the installed CANDU fleet. As Canada focuses on how to unlock economic growth through infrastructure megaprojects, we are privileged to support Bruce Power and its investment in the country's only domestically-designed and owned nuclear power technology; one that relies on approximately 89,000 jobs nationwide.⁶"

CANDU technology: making a difference for Ontario

AtkinsRéalis has injected over $2.3 billion in purchase orders into the CANDU supply chain across roughly 550 companies in the last 19 months. 90% of this investment was issued to Canadian suppliers: highlighting the depth and breadth of the CANDU supply chain within Canada.⁷

AtkinsRéalis has also deepened its long-standing involvement in the Bruce County region over the past year, including opening a modernized, larger office in Port Elgin. The Company is a founding member of the locally-based Nuclear Innovation Institute, and contributes to numerous initiatives in support of local communities of the Saugeen Ojibway Nation as well as community facilities in the region such as schools, food banks, and local employment institutes.

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¹ Source: Bruce Power, https://www.brucepower.com/about-us/

² Source: Based on AtkinsRéalis management expectations

³ Source: Bruce Power, https://www.brucepower.com/2025/06/12/bruce-power-proud-of-its-role-in-newly-released-integrated-energy-plan-which-provides-a-clear-vision-to-power-ontario-forward/

⁴ Source: AtkinsRéalis, https://www.atkinsrealis.com/en/media/press-releases/2023/12-05-2023

⁵ Source: Bruce Power, https://www.brucepower.com/about-us/

⁶ Source: Canadian Nuclear Association, https://cna.ca/2024/09/24/canadian-nuclear-industry-a-powerhouse-of-job-creation-and-economic-growth/

⁷ Source: AtkinsRéalis, https://www.atkinsrealis.com/en/media/trade-releases/2025/2025-07-17

About AtkinsRéalis   

Created by the integration of long-standing organizations dating back to 1911, AtkinsRéalis is a world-class engineering services and nuclear company dedicated to engineering a better future for our planet and its people. We create sustainable solutions that connect people, data and technology to transform the world's infrastructure and energy systems. We deploy global capabilities locally to our clients and deliver unique end-to-end services across the whole life cycle of an asset including consulting, advisory & environmental services, intelligent networks & cybersecurity, design & engineering, procurement, project & construction management, operations & maintenance, decommissioning and capital. The breadth and depth of our capabilities are delivered to clients in strategic sectors such as Engineering Services, Nuclear and Capital.  News and information are available at www.atkinsrealis.com or follow us LinkedIn. 

About AtkinsRéalis' Nuclear Sector

AtkinsRéalis has over 70 years of global nuclear expertise, delivering nuclear technology products and full-service solutions to nuclear utilities around the world. AtkinsRéalis is the steward of CANDU® nuclear technology, operating on four continents, and provides advisory and engineering services to other nuclear developers. With an innovative technology portfolio, including access to over 500 patented solutions, AtkinsRéalis solves technically complex challenges across the whole nuclear lifecycle from design and new build through asset management and from life extension and late life management through decommissioning and waste management. AtkinsRéalis operates and manages government nuclear research sites, transforming ageing infrastructure and safely managing legacy nuclear waste. AtkinsRéalis' CANDU technology also allows for the co-production of medical radioisotopes for cancer detection and treatment. The company also supports cancer treatment through its partnership with TerraPower to extract isotopes from legacy nuclear material. Learn more on our Nuclear market page. 

Forward-Looking Statements

References in this press release to the "Company", "AtkinsRéalis", "we", us" and "our" mean, as the context may require, AtkinsRéalis Group Inc. or all or some of its subsidiaries or joint arrangements or associates. Statements made in this press release that describe the Company's expectations or strategies constitute "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "estimates", "expects", "forecasts", "intends", "may", "objective", "plans", "projects", "should", "will", "likely", or other variations thereon. Forward-looking statements also include any other statements that do not refer to historical facts. The Company cautions that, by their nature, forward-looking statements involve risks and uncertainties, and that its actual actions or results could differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of the Company's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Company's business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements made in this press release are based on a number of assumptions believed by the Company to be reasonable as at the date hereof. The assumptions are set out throughout the Company's 2024 annual management disclosure & analysis ("2024 MD&A") (particularly in the sections entitled "Critical Accounting Judgments and Key Sources of Estimation Uncertainty" and "How We Analyze and Report our Results") filed with the securities regulatory authorities in Canada, available on SEDAR+ at www.sedarplus.com and on the Company's website at www.atkinsrealis.com under the "Investors" section. If these assumptions are inaccurate, the Company's actual results could differ materially from those expressed or implied in such forward-looking statements. In addition, important risk factors could cause the Company's assumptions and estimates to be inaccurate and actual results or events to differ materially from those expressed in or implied by these forward-looking statements. Those risks are identified in the 2024 MD&A (particularly in the section entitled "Risk and Uncertainties"), as may be updated from time to time in the Company's interim quarterly MD&A, are not exhaustive. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake to update publicly or to revise any such forward-looking statements whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation. The forward-looking information and statements contained herein are expressly qualified in their entirety by this cautionary statement.

SOURCE AtkinsRéalis

For more information: Media: Harold Fortin, Senior Director, Global External Communications, [email protected]; Investors: Denis Jasmin, Vice President, Investor Relations, 514-393-8000, ext. 57553, [email protected]